Prisma Investment House
In the last few years, fierce competition has predominated Israel's capital markets. In this environment, only a dramatic action could make the financial advisors take note – as they did after this "pillow" campaign.
The Israeli capital market has undergone a revolution in the recent years. The Ministry of Finance took the provident and mutual funds out of the banks' control, and sold it to dozens of investment houses of all sizes. The resulting abundance of investing venues had drastically changed the local investing arena. The variety and selection skyrocketed instantly – as did the confusion.
The new rules of the game changed the scene for the investment advisors at the banks. Where in the past they were highly committed to the financial institute which they worked for, from the reform's date their focus shifted to the individual investor, and they were legally and ethically bound to find the most attractive offer from a multitude of offers in the investment universe.
All of this means that investment advisors at the banks are continuously pursued by the investment houses. The advisors are those that are "kissed up to", and the investment houses must act obsequiously to please them, by presenting superior performance and otherwise gaining positive recommendations to other clients.
One of the largest investment houses is Prisma Finance, an institute established by the Markstone Capital Group, LLC. Initially, Prisma's strategy was to capture significant portions of the capital markets by acquiring existing firms. Later, it had to compete vigorously to maintain market share.
In December 2007, Prisma launched the new, high-yield 00 money market fund. A relative newcomer to Israel, money market funds promised the safety of the principal with a modest but relatively predictable return.
The fund was launched almost simultaneously with dozen other funds- time to make the buzz!
Strategy
The Agency’s strategy was clear: we can finally give the investment advisors what they really want – peace of mind. Peace of mind means an advisor who can rest assured that his investment recommendations will result in a satisfied customer that knows their money is safe, and thus can have a good night sleep.
In order to stand out from the crowd of other investment houses that often show up at the office doorstep and hand out endless giveaways, freebies and manager desks' memorabilia, we decided to take a different approach – visit the advisors at their homes with a unique delivery that will overcome resistance, uplift obstacles – but chiefly send a clear message that with Prisma 00 money market fund you'll have a peaceful night. So nighty night...and sleep tight!
Concept
Nighty-night...sleep tight! The sleeping pillow conveyed an unambiguous message – you can sleep extremely well. And when you sleep well, the customers will also enjoy a relaxing, easygoing state of mind about their investment. Hand delivering a quality Prisma pillow will make them smile, produce significant buzz and when the penny drops they'd realize that "Prisma makes sure I sleep tight".
Execution
In 48 hours the Campaign reached the homes of 3500 investment advisors using a courier holding an extra large package, containing a superior quality sleeping pillow.
On the pillowcase, a large and conspicuous message was embossed: "Starting tonight, you can sleep quietly". The pillow was accompanied by a leaflet highlighting the fund's essentials.
Results
The campaign resonated throughout the local capital markets. Financial forums were the first to report the unconventional delivery, and the word of the newly formed money market fund swiftly spread around.
Advisors called Prisma Finance with a single request: to receive a second pillow for their spouse...
Six months after its launch, the Prisma 00 money market fund is one of the top three money market funds in Israel (in terms of assets under management